Trading ideas: MISC, Binasat Communications, LKL International, SCIB

KUALA LUMPUR: MISC Bhd, Binasat Communications Bhd, LKL International Bhd and Sarawak Consolidated Industries Bhd (SCIB) are among the stocks to watch on Wednesday, according to JF Apex Research.

MISC’s wholly-owned AET Tanker Holdings Sdn Bhd has secured long-term charter contracts to own and operate two newly-built LNG Dual Fuel VLCCs (very large crude carriers) from Chartering and Shipping Services SA, a wholly-owned subsidiary of Total SA.

Binasat Communications has proposed a private placement exercise to raise up to RM5.8mil, mainly to fund the installation of a new data centre at its satellite teleport facility.

LKL International has received a personal protective equipment (PPE) procurement order worth RM7.08mil from the Sarawak State Health Department.

SCIB is proposing to undertake a private placement to raise RM66.52mil to fund the company’s upcoming construction projects.

Overnight, US markets ended slightly lower after giving up intraday gains amid ongoing concern over the coronavirus outbreak.

Earlier, European stocks advanced over hopes that the coronavirus might have peaked in the region.

Following the mixed performances in the US and Europe, JF Apex said the FBM KLCI could take a breather and consolidate below the resistance of 1,370 points following the recent rebound.

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MISC , Binasat , LKL , SCIB


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